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Updated over 5 years ago,
Amortization of multifamily and tax on capital gains
I’m planning on buying a three family house- rent two units and live in the third.
I plan to depreciate the building to lower my tax burden on a yearly basis.
Assuming I live there for 3 years and then sell it I would not pay taxes on the capital gains from the sale - that seems to me like a winning strategy as I lower my tax burden on the rent and do not have to pay it when I sell...am I right or am I missing something?